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Penn Entertainment breaks ground for 2 new properties

Penn Entertainment Inc. had a busy week last week, breaking ground on two properties and announcing a partnership with the National Hockey League.

On Nov. 28, the Wyomissing-based company broke ground in Ohio for a new hotel at its Hollywood Casino Columbus.

Attached to Penn’s existing property, the new hotel has a budget of $100 million and is expected to add about 100 new permanent jobs when it opens. The hotel will include 180 rooms, meeting space and an additional restaurant, as well as additional local partnerships and amenities.

Construction is expected to be completed in early to mid-2025, the company said.

That event was followed the next day with another ceremonial groundbreaking — this one for the new Hollywood Casino Aurora in Aurora, Ill. When completed, The new casino, hotel and entertainment facility will replace the company’s nearby Riverboat Casino.

Construction is expected to take about two years, according to the company.

The $360 million complex will feature about 1,200 gaming positions, approximately 220 guest rooms, a retail sportsbook, outdoor entertainment area, full-service spa, high-quality bars and restaurants, an approximately 12,000-square-foot event center and approximately 1,700 parking spaces. Penn Entertainment expects to create 700 construction jobs and 700 permanent jobs at the new facility, nearly doubling the number of employees in Aurora.

“Our tremendous and long-lasting partnership with the city of Aurora has provided an opportunity to relocate our property to an ideal location that will significantly improve our offerings and further our positive economic impact on the community,” Jay Snowden, CEO and president of Penn Entertainment, said in a statement.

Online sports betting

To round out the week, the company announced a partnership with the National Hockey League, naming ESPN BET and theScore Bet as official sports betting partners of the NHL.

Under the terms of the agreement, as official league partners, ESPN BET and theScore Bet will have access to a variety of entitlements, including IP rights, and media and marketing integrations across league programming and premium NHL experiences, according to the Thursday announcement. Those entitlements begin immediately and include the NHL regular season, Stanley Cup Playoffs, 2024 NHL Winter Classic, 2024 NHL Stadium Series and 2024 NHL All-Star Weekend. The partnership between Penn and the NHL will also include collaboration for best-in-class game integrity procedures, a press release stated.

ESPN BET launched on Nov. 14 in 17 states, and is a newly-branded online sportsbook operated by Penn Entertainment. It combines ESPN’s brand and multiplatform reach with Penn Entertainment’s proprietary in-house technology and sportsbook operational expertise, the company has said.

“From day one we’ve said our media rights deal with ESPN and The Walt Disney Company has been a big win for our fans and our League, and this new collaboration is further testament to the value of our partnership,” Jason Jazayeri, NHL vice president, business development, said in a statement. “The NHL is younger, faster and more exciting than ever, and delivers tremendous opportunity for fan engagement and responsible gaming experiences.”

Aubrey Levy, senior vice president, marketing and content, Penn Interactive, said the company is thrilled to collaborate with the NHL.

“Becoming an official partner allows us to more broadly engage hockey fans, develop compelling integrations and uniquely leverage NHL programming,” Levy said in a statement.

Penn Entertainment Inc. operates 43 properties in 20 states, online sports betting in 18 jurisdictions and iCasino in five jurisdictions, under a portfolio of brands that includes Hollywood Casino, L’Auberge, ESPN BET and theScore Bet Sportsbook and Casino.

Source: Berkshire mont

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